Income Protection & Disability
What is Income Protection & Disability?
Income protection, also known as disability insurance, is an insurance policy that replaces a portion of an employee's income if they are unable to work due to illness or injury.
Benefits to Employer
Offering income protection demonstrates a commitment to employee wellbeing, which can enhance a company’s reputation and foster loyalty among staff. By mitigating financial stress for employees during illness or injury, income protection promotes a smoother return to work, which can improve long-term productivity. Policies which include access to rehabilitation programmes can reduce absenteeism and help employees return to work sooner.
Benefits to Employee
Income protection insurance provides employees with financial stability if they are unable to work due to illness or injury. The amount provided by private insurance is likely to be much higher than the government disability payment. This allows employees to focus on their recovery without the added pressure of financial instability. By being part of a group plan, the coverage tends to be more affordable than individual insurance, making it a cost-effective way for employees to secure additional financial protection. For policies that include rehabilitation support, it helps employees recover and return to work sooner.
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Similar benefits
Ben is easily the most engaged initiative we’ve ever had. It gets everything to everyone in different locations, and I can’t even tell you how much time it’s saved us.
